The Department of Housing and Urban Development (HUD) recently announced new rules and policies regarding FHA loan approval of condominium units. This is the news realtors, lenders and homebuyers have been anticipating for over a decade because condominiums have become a source of affordable, sustainable homeownership for many families. Individual Condo Unit Approval for FHA Loans In an effort to promote affordable and sustainable homeownership, especially among credit-worthy first-time buyers, the Federal Housing Administration (FHA) has established a new condominium approval process allowing certain individual condo units to be eligible for FHA mortgage...READ MORE
Please enjoy this quick update on what happened this week in the housing and financial markets Trade talks with China continue, as the two sides try to reach a 'phase one' deal. A signed deal could pressure mortgage rates slightly higher, as it is expected to improve the economy. October's consumer prices saw their largest gain since March. Underlying inflation picked up slightly, supporting the Fed's stance of holding off on more rate cuts in the near term. ...READ MORE
It would be amazing if all you needed to prep your home for fall was hang a wreath and light a bunch of pumpkin spice candles. While yes, those are a part of getting ready for the change of seasons, there are more important (and not exactly fun) preparations that come with being a homeowner. With that said, fall is the perfect season to tackle general home maintenance projects because the weather is generally dry and temperatures are moderate. Before you start your seasonal home maintenance checklist, examine both the interior and exterior of your home. Most of these home maintenance items can be accomplished without the help of a...READ MORE
30 YEAR FIXED MORTGAGE RATES Please enjoy this quick update on what happened this week in the housing and financial markets. Continued progress in trade talks with China is helping stocks rally to record highs and driving bond yields higher. Increased bond yields are pressuring mortgage rates higher. U.S. service companies grew at a faster pace in Oct after sinking to a 3-yr low...READ MORE
Autumn is in full swing. Kids are back at school, football has started, and the weather is cooling off. In fact, fall is a great time to get a great deal on a new home especially because current market conditions are favorable toward buyers in many areas. Most home buyers assume buying in the spring or summer gets you the best selection and home shopping opportunities. Experts would disagree. Home buying the in the fall -- especially fall of 2019 -- can yield huge savings on the mortgage rate and home price. It’s wise to start shopping now and take advantage of this window, before the holidays and the cold weather hit. Here are 3 Reasons why Fall 2019 is the...READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.